Seneca Foods Corp acquires remaining 50% of Truitt Bros

Seneca Foods Corporation and David J. Truitt have entered into a Share Purchase Agreement whereby the Company has acquired David's 50% ownership interest in Truitt Bros., Inc., ("TBI") and directly related holdings.

The effective date of the transaction is April, 1, 2017. With this transaction the Company will now own 100% of TBI which they will retain as a wholly owned subsidiary. David Truitt and the existing management team will continue to operate the TBI business after this transaction. The remaining terms of the Share Purchase Agreement are currently not being disclosed.

"We are very excited about acquiring the remaining ownership interest in Truitt Bros. Truitt Bros. is a leader in developing shelf stable meals in trays and pouches," stated Kraig Kayser, Seneca Foods' President and CEO. "For the last three years, we have worked with David and his team as equity partners, and we are pleased that they are remaining to lead the organization into the future."

David Truitt, President and CEO of TBI, stated: "Speaking for myself and the Truitt employees, we are very pleased to have this opportunity to work with the Seneca organization. Culturally, and strategically, it's an excellent fit, which we look forward to continuing."

For more information:
Timothy J. Benjamin
Seneca Foods Corporation
Tel: +1 315-926-8100

David J. Truitt
Truitt Bros.
Tel: +1 503 362 3674